Rhenman & Partners Asset Management AB Sells 113,877 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

by · The Cerbat Gem

Rhenman & Partners Asset Management AB lessened its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 31.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 250,623 shares of the biotechnology company’s stock after selling 113,877 shares during the period. BioMarin Pharmaceutical comprises 1.7% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 22nd largest holding. Rhenman & Partners Asset Management AB’s holdings in BioMarin Pharmaceutical were worth $16,473,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its holdings in BioMarin Pharmaceutical by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock valued at $2,546,000 after purchasing an additional 164 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of BioMarin Pharmaceutical by 13.9% in the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock worth $89,000 after purchasing an additional 165 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares in the last quarter. First Hawaiian Bank increased its position in shares of BioMarin Pharmaceutical by 1.4% during the 4th quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company’s stock worth $966,000 after purchasing an additional 200 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 233 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Scotiabank raised their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. StockNews.com lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group increased their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Read Our Latest Analysis on BMRN

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $60.26 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a one year low of $59.99 and a one year high of $94.85. The stock has a 50-day moving average of $67.95 and a 200-day moving average of $67.24. The company has a market cap of $11.50 billion, a PE ratio of 27.39, a P/E/G ratio of 0.61 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) last posted its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the sale, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.85% of the company’s stock.

About BioMarin Pharmaceutical

(Free Report)

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

See Also

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